New forex trading week kicks off – what to expect

With a new foreign exchange trading week now well underway, there’s plenty to watch out for in the markets.

Today (Monday), there will be a range of data releases from around the world, including Sentix investor confidence data for October covering the whole of the Eurozone.

This is expected to show a change from -11.1 to -13.0.

There’ll also be a consumer credit change metric release, covering August, from the US at 7pm GMT.

There will be a like for like retail sales figure for September due at 11:01pm GMT out of the US.

This is expected to show some stabilisation by moving from -0.5% to +0%.

Japanese labour cash earnings for August will be due out at 11:30pm GMT.

This is expected to show a year on year change from -1% to -0.1%.

Overall household spending figures for August will be out of Japan at this time too, and they are expected to show a change from 0.8% to 1.2%.

In addition to these many data releases, there will also be a speech from the US Federal Reserve’s Jerome Powell, who chairs the organisation.

This is due to happen at 5pm GMT.

Looking ahead to Tuesday of this week, there will be a business conditions report for September from the National Australia Bank due out at 12:30am GMT.

There will be a Caixin services Purchasing Managers’ Index (PMI) from China at 1:45am GMT.

This is expected to show a change from 52.1 to 52.9.

This will also mark a return of Chinese data points to the forex trading scene.

It has largely been quiet in the last few days due to the National Day event which has been taking place for a week.

Mark Carney, the governor of the Bank of England, is set to speak at 4:10am GMT.

There will be an Eco Watchers survey for September due at 5am GMT out of Japan.

In current terms, this is due to show a change from 42.8 to 42.4.

French trade balance data for August will be out at 6:45am GMT.

Italian retail sales data for August will follow shortly after.

This is expected to show a change from 2.6% to 3.1%.

Later in the day, producer price index information from the US for September is expected out at 12:30pm GMT.

This metric will exclude food and energy and is predicted to show a year on year change from 2.3% to 2.2%.

Another speech from US Federal Reserve chair Jerome Powell will occur at 6:30pm GMT.

Looking ahead to Wednesday, there will be a meeting of the Eurogroup – which constitutes the finance ministers of each member country in the Euro bloc, as well as other senior financial figures including the president of the European Central Bank – at some stage over the course of the day.

There will be a set of minutes from the Federal Open Market Committee out later in the day too, which are expected to reveal insights into the organisation’s latest meeting.